You are here: Home » News-CM » Equities » Market Report
Business Standard

Market witnesses selling pressure

Capital Market 

After opening lower, key benchmark indices slipped further to hit fresh intraday low in morning trade. At 10:16 IST, the barometer index, the S&P Sensex, was down 279.94 points or 1% at 27,802.40. The 50 index was down 85.25 points or 0.98% at 8,623.55. The and the Nifty, both, hit their lowest levels in almost two weeks. The fell 280.69 points, or 1% at the day's low of 27,801.65 in morning trade, its lowest level since 30 September 2016. The index fell 39.72 points, or 0.14% at the day's high of 28,042.62 in early trade. The fell 85.70 points, or 0.98% at the day's low of 8,623.10 in morning trade, its lowest level since 30 September 2016. The index fell 27.25 points, or 0.31% at the day's high of 8,681.55 in early trade.

The market breadth, indicating the overall health of the market, was weak. On BSE, 1,408 shares fell and 789 shares rose. A total of 88 shares were unchanged. The Mid-Cap index was currently down 0.77%. The Small-Cap index was currently down 0.83%. The decline in both these indices was lower than the Sensex's decline in percentage terms.

In overseas stock markets, Asian stocks declined after minutes of the last US Federal Reserve policy meeting indicated a December rate increase was still on the cards. US stocks finished mostly higher yesterday, 12 October 2016. Minutes from the Fed's September meeting, indicate that policy makers wanted more evidence of full employment and gains in inflation before feeling confident in raising rates, but the minutes also said a rate increase was in the cards relatively soon.

Back home, metal shares edged lower. Hindustan Zinc (down 3.28%), Steel Authority of India (down 2.38%), Hindalco Industries (down 1.87%), Bhushan Steel (down 1.59%), JSW Steel (down 1.4%), Vedanta (down 1.13%), Tata Steel (down 1.05%), NMDC (down 0.84%), National Aluminium Company (down 0.1%) and Hindustan Copper (down 0.08%), edged lower. Jindal Steel & Power was up 0.38%.

Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for December 2016 delivery was currently down 0.41% at $2.1675 per pound on the COMEX.

Power generation stocks declined. Reliance Infrastructure (down 1.88%), JSW Energy (down 1.62%), Jaiprakash Power Ventures (down 1.55%), Adani Power (down 1.35%), Tata Power (down 1.11%), Reliance Power (down 1.04%), CESC (down 1.01%), GMR Infrastructure (down 0.78%), Torrent Power (down 0.36%) and NTPC (down 0.24%), edged lower. NHPC was up 0.59%.

State-run Power Grid Corporation of India was down 1.07%.

State-run Coal India was down 0.47%.

On a the economic front, India's industrial production declined 0.7% in August 2016 compared with a revised 2.5% decline in July 2016. The government unveiled the industrial production data for August 2016 after trading hours on Monday, 10 October 2016. Decline in production in metal and manufacturing sector led the decline in industrial production in August 2016. Production of the mining sector declined 5.6% and manufacturing production fell 0.3%. As per use-based classification, capital goods production declined sharply by 22.2% in August 2016. Consumer goods production rose 1.1%.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Market witnesses selling pressure

After opening lower, key benchmark indices slipped further to hit fresh intraday low in morning trade. At 10:16 IST, the barometer index, the S&P BSE Sensex, was down 279.94 points or 1% at 27,802.40. The Nifty 50 index was down 85.25 points or 0.98% at 8,623.55. The Sensex and the Nifty, both, hit their lowest levels in almost two weeks. The Sensex fell 280.69 points, or 1% at the day's low of 27,801.65 in morning trade, its lowest level since 30 September 2016. The index fell 39.72 points, or 0.14% at the day's high of 28,042.62 in early trade. The Nifty fell 85.70 points, or 0.98% at the day's low of 8,623.10 in morning trade, its lowest level since 30 September 2016. The index fell 27.25 points, or 0.31% at the day's high of 8,681.55 in early trade.

After opening lower, key benchmark indices slipped further to hit fresh intraday low in morning trade. At 10:16 IST, the barometer index, the S&P Sensex, was down 279.94 points or 1% at 27,802.40. The 50 index was down 85.25 points or 0.98% at 8,623.55. The and the Nifty, both, hit their lowest levels in almost two weeks. The fell 280.69 points, or 1% at the day's low of 27,801.65 in morning trade, its lowest level since 30 September 2016. The index fell 39.72 points, or 0.14% at the day's high of 28,042.62 in early trade. The fell 85.70 points, or 0.98% at the day's low of 8,623.10 in morning trade, its lowest level since 30 September 2016. The index fell 27.25 points, or 0.31% at the day's high of 8,681.55 in early trade.

The market breadth, indicating the overall health of the market, was weak. On BSE, 1,408 shares fell and 789 shares rose. A total of 88 shares were unchanged. The Mid-Cap index was currently down 0.77%. The Small-Cap index was currently down 0.83%. The decline in both these indices was lower than the Sensex's decline in percentage terms.

In overseas stock markets, Asian stocks declined after minutes of the last US Federal Reserve policy meeting indicated a December rate increase was still on the cards. US stocks finished mostly higher yesterday, 12 October 2016. Minutes from the Fed's September meeting, indicate that policy makers wanted more evidence of full employment and gains in inflation before feeling confident in raising rates, but the minutes also said a rate increase was in the cards relatively soon.

Back home, metal shares edged lower. Hindustan Zinc (down 3.28%), Steel Authority of India (down 2.38%), Hindalco Industries (down 1.87%), Bhushan Steel (down 1.59%), JSW Steel (down 1.4%), Vedanta (down 1.13%), Tata Steel (down 1.05%), NMDC (down 0.84%), National Aluminium Company (down 0.1%) and Hindustan Copper (down 0.08%), edged lower. Jindal Steel & Power was up 0.38%.

Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for December 2016 delivery was currently down 0.41% at $2.1675 per pound on the COMEX.

Power generation stocks declined. Reliance Infrastructure (down 1.88%), JSW Energy (down 1.62%), Jaiprakash Power Ventures (down 1.55%), Adani Power (down 1.35%), Tata Power (down 1.11%), Reliance Power (down 1.04%), CESC (down 1.01%), GMR Infrastructure (down 0.78%), Torrent Power (down 0.36%) and NTPC (down 0.24%), edged lower. NHPC was up 0.59%.

State-run Power Grid Corporation of India was down 1.07%.

State-run Coal India was down 0.47%.

On a the economic front, India's industrial production declined 0.7% in August 2016 compared with a revised 2.5% decline in July 2016. The government unveiled the industrial production data for August 2016 after trading hours on Monday, 10 October 2016. Decline in production in metal and manufacturing sector led the decline in industrial production in August 2016. Production of the mining sector declined 5.6% and manufacturing production fell 0.3%. As per use-based classification, capital goods production declined sharply by 22.2% in August 2016. Consumer goods production rose 1.1%.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Market witnesses selling pressure

After opening lower, key benchmark indices slipped further to hit fresh intraday low in morning trade. At 10:16 IST, the barometer index, the S&P Sensex, was down 279.94 points or 1% at 27,802.40. The 50 index was down 85.25 points or 0.98% at 8,623.55. The and the Nifty, both, hit their lowest levels in almost two weeks. The fell 280.69 points, or 1% at the day's low of 27,801.65 in morning trade, its lowest level since 30 September 2016. The index fell 39.72 points, or 0.14% at the day's high of 28,042.62 in early trade. The fell 85.70 points, or 0.98% at the day's low of 8,623.10 in morning trade, its lowest level since 30 September 2016. The index fell 27.25 points, or 0.31% at the day's high of 8,681.55 in early trade.

The market breadth, indicating the overall health of the market, was weak. On BSE, 1,408 shares fell and 789 shares rose. A total of 88 shares were unchanged. The Mid-Cap index was currently down 0.77%. The Small-Cap index was currently down 0.83%. The decline in both these indices was lower than the Sensex's decline in percentage terms.

In overseas stock markets, Asian stocks declined after minutes of the last US Federal Reserve policy meeting indicated a December rate increase was still on the cards. US stocks finished mostly higher yesterday, 12 October 2016. Minutes from the Fed's September meeting, indicate that policy makers wanted more evidence of full employment and gains in inflation before feeling confident in raising rates, but the minutes also said a rate increase was in the cards relatively soon.

Back home, metal shares edged lower. Hindustan Zinc (down 3.28%), Steel Authority of India (down 2.38%), Hindalco Industries (down 1.87%), Bhushan Steel (down 1.59%), JSW Steel (down 1.4%), Vedanta (down 1.13%), Tata Steel (down 1.05%), NMDC (down 0.84%), National Aluminium Company (down 0.1%) and Hindustan Copper (down 0.08%), edged lower. Jindal Steel & Power was up 0.38%.

Meanwhile, copper price edged lower in the global commodities markets. High Grade Copper for December 2016 delivery was currently down 0.41% at $2.1675 per pound on the COMEX.

Power generation stocks declined. Reliance Infrastructure (down 1.88%), JSW Energy (down 1.62%), Jaiprakash Power Ventures (down 1.55%), Adani Power (down 1.35%), Tata Power (down 1.11%), Reliance Power (down 1.04%), CESC (down 1.01%), GMR Infrastructure (down 0.78%), Torrent Power (down 0.36%) and NTPC (down 0.24%), edged lower. NHPC was up 0.59%.

State-run Power Grid Corporation of India was down 1.07%.

State-run Coal India was down 0.47%.

On a the economic front, India's industrial production declined 0.7% in August 2016 compared with a revised 2.5% decline in July 2016. The government unveiled the industrial production data for August 2016 after trading hours on Monday, 10 October 2016. Decline in production in metal and manufacturing sector led the decline in industrial production in August 2016. Production of the mining sector declined 5.6% and manufacturing production fell 0.3%. As per use-based classification, capital goods production declined sharply by 22.2% in August 2016. Consumer goods production rose 1.1%.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard